Oriented Strandboard (OSB) Market

Driven by increasing demand for oriented strandboard (OSB) worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to expand with an anticipated CAGR of +2.2% for the period from 2022 to 2030, bringing the market volume to 52M cubic meters by the end of 2030. The global market recorded growth in consumption of OSB, with the United States being the largest consumer. Production volumes and exports have also seen growth, with Canada leading in exports. Import prices have fluctuated, with Canada having the highest export price.

Market Forecast

Driven by increasing demand for oriented strandboard (OSB) worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +2.2% for the period from 2022 to 2030, which is projected to bring the market volume to 52M cubic meters by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.5% for the period from 2022 to 2030, which is projected to bring the market value to $19B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Oriented Strandboard (OSB)

For the fifth year in a row, the global market recorded growth in consumption of oriented strandboard (OSB), which increased by 5.7% to 43M cubic meters in 2022. Overall, the total consumption indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of +6.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +24.8% against 2016 indices. Global consumption peaked in 2022 and is likely to see steady growth in the immediate term.

The global oriented strandboard (OSB) market revenue shrank to $13.4B in 2022, dropping by -6.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +6.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +46.9% against 2019 indices. As a result, consumption attained the peak level of $14.4B, and then fell in the following year.

Consumption By Country

The country with the largest volume of oriented strandboard (OSB) consumption was the United States (20M cubic meters), accounting for 45% of total volume. Moreover, oriented strandboard (OSB) consumption in the United States exceeded the figures recorded by the second-largest consumer, China (7.1M cubic meters), threefold. Canada (1.6M cubic meters) ranked third in terms of total consumption with a 3.6% share.

In the United States, oriented strandboard (OSB) consumption expanded at an average annual rate of +4.6% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of consumption growth: China (+42.3% per year) and Canada (-5.2% per year).

In value terms, the United States ($7.2B) led the market, alone. The second position in the ranking was taken by China ($1.4B). It was followed by Canada.

In the United States, the oriented strandboard (OSB) market increased at an average annual rate of +5.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: China (+41.2% per year) and Canada (-3.5% per year).

The countries with the highest levels of oriented strandboard (OSB) per capita consumption in 2022 were Belgium (100 cubic meters per 1000 persons), the Czech Republic (91 cubic meters per 1000 persons) and the Netherlands (66 cubic meters per 1000 persons).

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +41.6%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Oriented Strandboard (OSB)

In 2022, approx. 41M cubic meters of oriented strandboard (OSB) were produced worldwide; picking up by 2.1% against 2021 figures. Over the period under review, the total production indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +76.6% against 2012 indices. The pace of growth was the most pronounced in 2021 when the production volume increased by 10% against the previous year. Over the period under review, global production hit record highs in 2022 and is likely to see steady growth in the near future.

In value terms, oriented strandboard (OSB) production dropped remarkably to $13.1B in 2022 estimated in export price. Overall, production saw prominent growth. The pace of growth appeared the most rapid in 2021 when the production volume increased by 55% against the previous year. As a result, production reached the peak level of $15.8B, and then reduced dramatically in the following year.

Production By Country

The countries with the highest volumes of production in 2022 were the United States (14M cubic meters), Canada (7.3M cubic meters) and China (6.9M cubic meters), with a combined 68% share of global production. Russia, Luxembourg, Germany, Romania, Poland, the Czech Republic, Saudi Arabia, Latvia, Malaysia and Belarus lagged somewhat behind, together comprising a further 23%.

From 2012 to 2022, the biggest increases were recorded for Russia (with a CAGR of +49.7%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Oriented Strandboard (OSB)

In 2022, global oriented strandboard (osb) imports reached 15M cubic meters, with an increase of 10% on the previous year. Overall, total imports indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of +7.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +53.1% against 2019 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 21% against the previous year. Over the period under review, global imports attained the peak figure in 2022 and are likely to see gradual growth in years to come.

In value terms, oriented strandboard (OSB) imports shrank significantly to $5.2B in 2022. Over the period under review, imports recorded prominent growth. The pace of growth was the most pronounced in 2021 with an increase of 99%. As a result, imports reached the peak of $6.5B, and then dropped notably in the following year.

Imports By Country

The United States represented the major importing country with an import of around 6.2M cubic meters, which recorded 42% of total imports. Belgium (1,604K cubic meters) held the second position in the ranking, followed by the Netherlands (1,010K cubic meters), France (723K cubic meters), the Czech Republic (720K cubic meters) and Germany (693K cubic meters). All these countries together took near 32% share of total imports. The following importers - the UK (338K cubic meters), China (311K cubic meters), Spain (285K cubic meters), Japan (248K cubic meters), Italy (240K cubic meters) and Poland (225K cubic meters) - each recorded an 11% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to oriented strandboard (OSB) imports into the United States stood at +7.6%. At the same time, Spain (+47.2%), the Netherlands (+35.7%), the Czech Republic (+27.2%), Belgium (+23.0%), France (+19.8%), China (+12.2%), the UK (+10.7%), Germany (+5.2%), Italy (+4.1%) and Poland (+1.7%) displayed positive paces of growth. Moreover, Spain emerged as the fastest-growing importer imported in the world, with a CAGR of +47.2% from 2012-2022. Japan experienced a relatively flat trend pattern. Belgium (+7.9 p.p.), the Netherlands (+6.1 p.p.), the Czech Republic (+3.9 p.p.), France (+3.2 p.p.) and Spain (+1.8 p.p.) significantly strengthened its position in terms of the global imports, while Japan saw its share reduced by -1.8% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($3.2B) constitutes the largest market for imported oriented strandboard (OSB) worldwide, comprising 62% of global imports. The second position in the ranking was held by Germany ($288M), with a 5.6% share of global imports. It was followed by the UK, with a 2.6% share.

In the United States, oriented strandboard (OSB) imports increased at an average annual rate of +15.0% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Germany (+7.6% per year) and the UK (+15.4% per year).

Import Prices By Country

The average oriented strandboard (OSB) import price stood at $348 per cubic meter in 2022, waning by -28.2% against the previous year. Over the period under review, import price indicated a slight expansion from 2012 to 2022: its price increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, oriented strandboard (OSB) import price increased by +17.1% against 2018 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by 73% against the previous year. As a result, import price attained the peak level of $484 per cubic meter, and then reduced remarkably in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United States ($520 per cubic meter), while Belgium ($56 per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+6.9%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Oriented Strandboard (OSB)

In 2022, the amount of oriented strandboard (OSB) exported worldwide fell to 12M cubic meters, stabilizing at the year before. Overall, total exports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +9.3% against 2020 indices. The most prominent rate of growth was recorded in 2017 when exports increased by 114% against the previous year. Over the period under review, the global exports attained the peak figure at 12M cubic meters in 2021, and then fell slightly in the following year.

In value terms, oriented strandboard (OSB) exports fell markedly to $5.2B in 2022. Over the period under review, exports, however, continue to indicate a remarkable increase. The pace of growth appeared the most rapid in 2021 when exports increased by 99% against the previous year. As a result, the exports reached the peak of $6.4B, and then shrank dramatically in the following year.

Exports By Country

Canada was the largest exporter of oriented strandboard (OSB) in the world, with the volume of exports resulting at 5.8M cubic meters, which was approx. 47% of total exports in 2022. It was distantly followed by Luxembourg (1,019K cubic meters), Belgium (858K cubic meters) and Romania (571K cubic meters), together achieving a 20% share of total exports. Latvia (554K cubic meters), Germany (451K cubic meters), the Czech Republic (437K cubic meters), Russia (391K cubic meters), Ireland (327K cubic meters), Hungary (302K cubic meters), Poland (293K cubic meters), the UK (190K cubic meters) and Brazil (189K cubic meters) took a minor share of total exports.

From 2012 to 2022, average annual rates of growth with regard to oriented strandboard (OSB) exports from Canada stood at +6.1%. At the same time, Russia (+72.8%), Hungary (+44.5%), Luxembourg (+14.4%), Belgium (+11.3%), Brazil (+10.9%), Ireland (+2.6%), Latvia (+2.4%), Poland (+2.1%) and Romania (+1.2%) displayed positive paces of growth. Moreover, Russia emerged as the fastest-growing exporter exported in the world, with a CAGR of +72.8% from 2012-2022. The UK and the Czech Republic experienced a relatively flat trend pattern. By contrast, Germany (-1.3%) illustrated a downward trend over the same period. While the share of Luxembourg (+4.6 p.p.), Russia (+3.2 p.p.), Belgium (+2.9 p.p.), Canada (+2.6 p.p.) and Hungary (+2.3 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of Latvia (-1.6 p.p.), the Czech Republic (-2.4 p.p.), Romania (-2.4 p.p.) and Germany (-3.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Canada ($3.1B) remains the largest oriented strandboard (OSB) supplier worldwide, comprising 60% of global exports. The second position in the ranking was taken by Germany ($218M), with a 4.2% share of global exports. It was followed by Romania, with a 4.1% share.

In Canada, oriented strandboard (OSB) exports expanded at an average annual rate of +13.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Germany (+3.2% per year) and Romania (+4.3% per year).

Export Prices By Country

The average oriented strandboard (OSB) export price stood at $419 per cubic meter in 2022, declining by -18.5% against the previous year. Over the period under review, the export price, however, posted a moderate expansion. The growth pace was the most rapid in 2021 when the average export price increased by 80% against the previous year. As a result, the export price reached the peak level of $514 per cubic meter, and then shrank remarkably in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Canada ($533 per cubic meter), while Luxembourg ($162 per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+6.8%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform